Chch entrepreneur David Lyall extends investments
December 21 2004
Christchurch entrepreneur David Lyall extends investments
Christchurch entrepreneur David Lyall has set up a new equity investment company and established a fund to specifically invest in New Zealand businesses.
St. Andrews Capital has an initial fund of $7 million for immediate investment in companies wanting to grow their businesses, David Lyall says. “There are some excellent growth opportunities in New Zealand and through our investment we want to demonstrate the confidence we have in the market and the companies we’ve identified with the potential to move to the next level,” Mr Lyall says.
He says they are looking at businesses operating in a wide range of industry sectors.
The St. Andrews Capital Ltd board of directors includes another successful Christchurch entrepreneur, Bill Gee of Versatile Buildings, John Edilson, CEO of Provincial Finance, and local businessmen Colin Averill and Warren Bell. David Lyall, 40, who founded Provincial Finance and is a director of David Lyall Holdings, Provincial Finance, Tasman Pacific Insurance Ltd and Thornton Estates, was included on this year’s National Business Review Rich List with an estimated $55 million fortune. He also plans to open a new consumer finance company in Melbourne in the New Year. “We’ve done very well in the consumer finance sector in New Zealand and I am looking forward to doing the same in Australia. I’m starting from a modest base and will work towards being a significant player in the finance industry in Victoria,” Mr Lyall says.
“Once the business is established I will be looking at other investment opportunities in Australia to extend my involvement in that market.” Two Melbourne directors have been appointed to the newly established Australian-based company. Graeme Bowker was previously the managing partner of Deloitte in Victoria and is the past Chairman of Melbourne Water, and Ken Dowling who is a financial planning and accounting consultant and a former partner with PriceWaterhouseCoopers.
Background David Lyall Holdings Limited has a total asset base of $171million, with investments in the finance, insurance, land development and private equity sectors in New Zealand, Australia and Singapore. Directors are Colin Averill (chairman), David Lyall, John Edilson, and Warren Bell.